Liberty and justice for all United States persons abroad

The Isaac Brock Society

Media and Blog Articles – part 2 of 11 (Year 2015)

You can access all years at this link: Media and Blog Articles – Links for All Years

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Media and Blog Articles

EmBee suggested that it would be good if there was a thread for new articles, so that people would be aware of where to comment. So, I created this permanent page.  You could mention such articles in the comment stream for this page, or if I see one on another thread, I can copy the link to here. I’ll keep adding to the list, but not deleting, so we’ll end up having sort of a “bibliography” too.  [Note:  Some articles are not open for comments]

For more articles on FATCA, enter FATCA into Google then click on the link “more news for fatca” just below the most recent featured article.

Note also: JC suggests to see #FATCA on Twitter for latest breaking news. JC finds that is quite a good source and there even are some international articles that one may read using Google Translate.” Others may help certain tweets and articles remain in elevated position by retweeting them.

Be sure to read the comment stream for this thread — there are usually very recent articles mentioned there that are not yet on this list.

2015.01.01
Raising revenue off Caribbean backs, Bruce Zagaris, NationNews, Barbados.
On or about 2016.01.01
16 issues to make 2016 candy for the market, Westfield Times.
2015.12.31
Tax reporting norms: FinMin updates guidance note on compliance, K.R. Srivats, Hindu Business Line, India.
2015.12.30
Top Tax Blogs from 2015, Tax Connections. (Congratulations to John Richardson and Lynne Swanson who placed 2nd and 4th!)
Global dragnet puts pressure on tax evaders as year-end deadlines loom, Jeff Gray, Globe and Mail, Canada.
IRS Employee Whose Job Was Assisting Victims Of Identity Theft Charged in $1 Million Identity Theft Tax Fraud, Paul Caron, TaxProfBlog, US.
How America’s Wealthiest Are Saving Billions Through a Private Tax System, TruthDig.
RA Returns Home, TaxProTalk forum.
2015.12.29
For the Wealthiest, a Private Tax System That Saves Them Billions, Noam Scheiber and Patricia Cohen, New York Times, US.
IRS Stirs Up New Crisis With Non-Profits Over Social Security Numbers, Eric Pianin, The Fiscal Times.
DNC Must Heed Warning Bells From 2000, Bennet Kelley, Huffington Post, US.
2015.12.28
IRS Creates “International Practice Units” for their IRS Revenue Agents in International Tax Matters, Patrick Martin, Tax-Expatriation, US.
MF investors: Les than a4th comply with US tax law, Jayshree P. Upadhyay & Ashley Coutinho, Business Standard, India.
IRS service should improve after some saw their ‘worst tax season,” advocate says, Robert Schroeder, MarketWatch, US.

Articles from earlier in 2015 are at this link

 Articles from 2014 are at this link

Media and Blog Articles Open for Comment thread, Part 1 of 2, is at this link

Media and Blog Articles Open for Comment thread, Part 3 of 3, is at this link

1,837 thoughts on “Media and Blog Articles – part 2 of 11 (Year 2015)”

  1. Robert Wood says in the article reported by Charl: “Of course, losing passport privileges isn’t the same as losing citizenship.” It *is* the same if the right to return to one’s native land is the *only* claim one has ever made to US citizenship.

  2. @Neil
    It looks like in some of those cases it wasn’t antipathy towards expats so much as a desire to make the property market less attractive to non-residents in general. Maybe expats are collateral damage everywhere. Out of sight, out of mind? Since you live in the U.S., do you think that Americans have a strange attitude towards Americans abroad? Nobody has ever done a poll and sometimes I wonder whether the below the line haters are just winding us up.

  3. @Publius
    Michael Moore has a new documentary coming out called “Which Country do we Invade Next?” In it, he basically shows american what they might learn from other governments. Like in one interview, he asks some young people how much student debt they have. They say “None”. Stuff like this- good stuff- to learn from the way other countries are run. You should have read the absolute VITRIOL of the comments made by homelanders. They told him he is a fat asshole who should basically go to hell. So no- it isn’t just the topic of expats. Americans are no longer “patriotic” they are “nationalistic” and that is a huge difference.

  4. @Publius,

    With Obama I have seen a dramatic shift in the US to greater hatred of those that have succeeded.
    The arguments flow constantly that the system is rigged and if you haven’t done well it’s not your fault. If others have done well it’s by gaming the system.
    The commentators I listen to the most are generally conservatives and hence against tax and regulation. Even in this group there is the rah rah America type mentality and they view anyone trying to leave the US as evil. You know the type that sits in NY and says that they would never give up their citizenship. They know nothing of the crap going on.
    A nice example is the 401(k). We all know the statistics. Americans just don’t save enough for retirement. This was being spun over the last few months as a failing in the 401(k) plans themselves. Obama is pushing a terrible product called MyRA that is a bond investment at low income people. Terrible way to save for retirement. Conveniently it’s a USG bond investment.
    It’s victim mentality at a massive level currently.

  9. Which leads to another link there that we all need to be clear on: http://blogs.wsj.com/expat/2015/10/29/expat-estate-planning-a-tragedy-prompts-adviser-to-weigh-in/

    The author says:

    Proper estate-planning for individuals subject to more than one country’s rules (e.g. American expats) generally requires an international estate-planning attorney in both countries to make sure the planning works properly in more than one jurisdiction;

    Another US professional to give fees to: the international estate-planning attorney.

  10. @Neill
    Thanks for your view. The American public nowadays does seem to have a rich fantasy life. Whenever I see or hear an American living in the U.K. on the media over here, I worry about them and their tax affairs. These aren’t necessarily sophisticated business people. Yesterday it was a prima ballerina, a few weeks ago a woman running a restaurant that employs refugee women. Hardly the champagne and yacht stereotype.

  13. @Bubblebustin

    Was this info a surprise to u? It wasn’t to me since we all knew this would happen…. Foreign gov’ts who are narcing US persons will get nothing in return…. While US persons are no longer welcome in any bank or anything… Try to partner up with a foreign person in a business venture… They rather have STD rather then a US person as a partner

  16. @Bubblebustin,

    At first we thought that the US wouldn’t sent any data out. Then the IRS claims it sent data out and I thought we were all wrong. Now the suggestion is that no data went out. Interesting.

  17. Calgary 411 re Moodys Gartner on passport –

    Extract:  under new IRC § 7345, the IRS gets the ability to share information on delinquent tax accounts with the State Department

    Dept of Treasury effectively merges with Dept of State.

    Perhaps bigger news than any specifics about SSN, passport, etc.
     

  20. @Neil, “At first we thought that the US wouldn’t sent any data out. Then the IRS claims it sent data out and I thought we were all wrong. Now the suggestion is that no data went out. Interesting.”

    Do the politicians in any country read what they vote on?

    I suspect that politicians in other countries including Canada thought there would be true reciprocity from day one.

    What they got was what they already had a right to get nothing more.

    @Barbara, yes you are so right

  21. @Neill @George

    And under FATCA, Canada for its trouble gets nothing it didn’t have already:

    Thanks to Badger,

    …”It asks the U.S. government to offer Mexico the same exchange of
information terms the United States has with Canada. That’s significant
because Canada is a special case when it comes to cross-border tax
enforcement. Despite possessing one of the world’s most comprehensive
tax treaty networks, the United States has meaningful information
exchange with only one country: Canada.

    
Mexico has now put the U.S. government on notice: It wants in on
what’s previously been Canada’s exclusive arrangement. Should that
inclination spread to other governments across the hemisphere, it could
have extraordinary consequences for the U.S. financial sector. Think of
it as the fiscal equivalent of the H1N1 flu virus…”

    http://isaacbrocksociety.ca/2012/11/26/mexico-us-sign-fatca-agreement/comment-page-1/#comment-99617

  23. Anybody got access to this?

    The Foreign Account Tax Compliance Act’s Unintended Consequences.
    Source: Banking & Finance Review . 2015, Vol. 7 Issue 2, p137-154. 18p.
    Author(s): Ahlawat, Sunita; Telson, Howard

    Abstract seems to suggest it is a very good read.

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